Sound familiar?
I joined Betfair some months ago and built a small bank using bookies offers before dabbling with Betangel. I try to be sensible trading the horses in markets with liquidity and volume. I'm making small progress then bang, start chasing a losing trade or don't scratch quickly enough. On my 2'nd bank now in 2 weeks and nearly cleaned this one out yesterday. A red book for 3 quid sure looks appealing after blowing twenty quid. I wonder if any of the more seasoned BA traders here started in a similar way and whether they think it's easier or harder to get started now that the opportunities on BF are more widely known? Do you think newcomers can develop into fulltime traders as easily as 2 or 3 years ago? I ask because whenever I come across blogs of super traders making thousands a week the posts are from some years ago and I haven't seen anything with recent dates. I'd be grateful if someone could reply with any relevent blog links, I'm not niave enough to suppose I'll make thousands and thousands but hope springs eternal and I'd like to give up the day job one day. Apologies for the long post.
It's harder now but only really because of the P.C.
which you prob will not have to worry about for a while.
Some methods that worked five years ago don't work now but the reverse is also true.
You just carn't stand still in this game if you can adapt then there is always ways to profit.
which you prob will not have to worry about for a while.
Some methods that worked five years ago don't work now but the reverse is also true.
You just carn't stand still in this game if you can adapt then there is always ways to profit.
Simple idea yet it does make sense, maybe you can you still review the situation and think again.LeTiss 4pm wrote:Many of those super traders you refer to will have been damaged by BF PC. I know somebody personally who jacked it in once PC came into force.
You also have this issue of scale. If you trade an account to £500k, that's the average size of turnover on a UK race. So if you reach that level you inevitably start scratching around elsewhere to put that money to use. Betfair didn't help that situation with PC.
It's still perfectly possible to do well in the markets, but as stated further up the thread, it's a moving target. Some people have fallen by the wayside because they failed to invest time and effort in learning new tricks. An inquisitive and restless mind helps in these markets.
You also have this side issue that a lot of pros don't bother to post P&L's now because people just used to give them grief when they did!
It's still perfectly possible to do well in the markets, but as stated further up the thread, it's a moving target. Some people have fallen by the wayside because they failed to invest time and effort in learning new tricks. An inquisitive and restless mind helps in these markets.
You also have this side issue that a lot of pros don't bother to post P&L's now because people just used to give them grief when they did!
I believe it is possible to make money out of this - either as full time or a decent 2nd income.
I started off at the beginning of this year trying to understand every sport and every market, and lost a couple of banks also. Now i just trade football and am doing well and making consistent profit.
The bank is building up nicely, with that will come increased stakes and larger profits - but more importantly building up experience and confidence....
At first i was hooked on the earnings of some of the main players we all read and hear about....but now i concentrate on me...my trading and what i am good at....and it works.
So what i am saying is just concentrate on building your bank, confidence and making small profits for now...rather than thinking of the big bucks!
Hope this helps
Good luck & happy trading..
I started off at the beginning of this year trying to understand every sport and every market, and lost a couple of banks also. Now i just trade football and am doing well and making consistent profit.
The bank is building up nicely, with that will come increased stakes and larger profits - but more importantly building up experience and confidence....
At first i was hooked on the earnings of some of the main players we all read and hear about....but now i concentrate on me...my trading and what i am good at....and it works.
So what i am saying is just concentrate on building your bank, confidence and making small profits for now...rather than thinking of the big bucks!
Hope this helps
Good luck & happy trading..
Thanks boxy and eular. Defo a confidence thing with trading. For me I'm just getting to grips with the ladders and scalping. Sometimes I find the scalps turn into swings but thats just slow scratching in most cases and not cutting a losing trade quickly enough. Hopefully I will develop other ways to trade, quite like the look of soccer mystic. Anyway more disciplined today, couple of early losing trades, then increased bank by about 5% so happy with that.
Thanks again all.
Thanks again all.
Hi Scotty,scotty875 wrote:I come across blogs of super traders making thousands a week the posts are from some years ago and I haven't seen anything with recent dates.
Peter posted something in the Bet Angel blog a couple of weeks ago about him having made over £1K in a day recently. AFAIK, there have only ever been four bloggers who have reported making that kind of money: Adam Heathcote, Ming Wong, Paulo Rebelo and Peter. Of those, only Peter and Paulo are still blogging (and with Paulo's blogs, it helps if you speak Portugese, although you can use Google Translate!).
Those guys are statistical outliers though, and I wouldn't tie yourself up in knots worrying about what they do (as I and doubtless many others have done!). Just focus on finding an edge and applying it with discipline, starting small, and build it from there...
Jeff
Hi Jeff,
Thanks for the reply. I'm not sure I've found an edge yet but onwards and upwards slow but sure. Very primitive trading has steadily recouped quite large loss (for me anyway!) and I begin to see some different opportunities now as we'll. today has been very successful for me on the horses. Early losses certainly have to be viewed as tuition fees. Happy trading to all and thanks for viewing/replying/advising.
PS, did manage to be on the right side of some very erratic odds movement on a couple of races. The favourites odds swung wildly a couple of times but I didn't notice much corresponding movement in the other horses, would this been caused by a "bomber"?
Thanks again,
Scotty
Thanks for the reply. I'm not sure I've found an edge yet but onwards and upwards slow but sure. Very primitive trading has steadily recouped quite large loss (for me anyway!) and I begin to see some different opportunities now as we'll. today has been very successful for me on the horses. Early losses certainly have to be viewed as tuition fees. Happy trading to all and thanks for viewing/replying/advising.
PS, did manage to be on the right side of some very erratic odds movement on a couple of races. The favourites odds swung wildly a couple of times but I didn't notice much corresponding movement in the other horses, would this been caused by a "bomber"?
Thanks again,
Scotty